Japanese Financial Watchdog Briefs On New Crypto-Related Regulation

01:53
Friday , March 15th 2019

The Financial Services Agency of Japan held a press briefing and explained the details of the proposed amendments after the government decided on a draft amendment to the Financial Instruments and Exchange Law and the Fund Settlement Act, which included tightening regulations on virtual currency exchange companies on March 15th. The five main aspects are as follows:1. Renamed to "cryptographic assets," though exchanges are not obliged to follow;2. Dealing with virtual currency outflow risk;3. Margin trading;4. ICOs can be regarded as investments and are subject to financial instruments transaction regulations;5. Others. The ban on misrepresentation and hypes by traders, price manipulation, etc. were also included.